Anti-Takeover Policy

To prevent hostile acquisitions of Lion Corporation shares that may be contrary to the improvement of the Company's corporate value, Lion has adopted the Countermeasures against the Large-Scale Purchase of Lion's Shares (Anti-Takeover Measures). Please see the press releases linked to below for details.

• Notice Concerning the Continuation of Countermeasures against Large-Scale Purchase of Lion's Shares (Anti-Takeover Measures)(February 10, 2015)
• Notice Concerning Approval to Continue Countermeasures against the Large-Scale Purchase of Lion's Shares (Anti-Takeover Measures) at the Company's Annual Meeting of Shareholders as well as the Appointment of Committee Members to the Corporate Governance Committee(March 27, 2015)